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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Will Iraq be the savior of the countries of the region if oil prices fall?

    Rocky
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    Will Iraq be the savior of the countries of the region if oil prices fall? Empty Will Iraq be the savior of the countries of the region if oil prices fall?

    Post by Rocky Today at 4:48 am

    Will Iraq be the savior of the countries of the region if oil prices fall?

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    Economy News - Baghdad
    [rtl]Economic expert Safwan Qusay spoke about Iraq’s ability to confront the decline in global oil prices, noting that leaving the single economy and focusing on non-oil imports has become a necessity to restore the Iraqi economy. [/rtl]
     
    [rtl]Qusay said, "If oil prices rise by a hundred dollars, it is possible that the quantities that were voluntarily reduced by OPEC will be re-pumped, noting that "there are no less than two million two hundred thousand barrels that have been voluntarily reduced." [/rtl]
    [rtl]He added, "It is not in the interest of oil producers to raise oil prices above $100 because that will support investments in shale oil, indicating that the producing countries are trying to control the price between $70 and $100." [/rtl]
    [rtl]Qusay pointed out that "Iraq will be the greatest savior for the countries of the region because it has dollar reserves and has a strategic reserve in terms of oil production," indicating that "if the government succeeds in containing the conflict and not being dragged directly into the region's unrest, the Iraqi economy will be pulled from the war zone to the development zone."[/rtl]
    [rtl]Qusay explained that "Iraq is able to confront the decline in oil prices, knowing that there is no decline in prices below seventy dollars because OPEC is the one that determines the quantities of production and is determined to remain within the region of 70-100 dollars per barrel." [/rtl]
    [rtl]He added, "The surplus that accumulated during the previous period of this year, in which Iraq sold at no less than $80 per barrel, enables Iraq to confront price changes."[/rtl]
    [rtl]He pointed out that "Iraq has begun to diversify its economy by investing in oil derivatives and stopping the burning of associated gas, in addition to stopping the import of materials that could be included in the ration card, noting that "the government has opportunities in the matter of sustainable financing through the reserves of the Central Bank or through the sale of oil shares if revenues fail to reach their goals."[/rtl]
     
     


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